Quote:
Originally Posted by urgeok2
the canadian dollar lost 10 cents in the last 10 days.
i lost $20,000 in stocks so far ... but i'm not touching anything - i'm pretty sure there will be a rebound eventually ..
but yes indeed - it is the panic that sends us deeper into recession.
people are scared - they stop investing, they stop spending.
the economy needs to be stimulated - without spending - people are laid off - less people can afford to spend and the spiral goes lower and lower tightening all the time.. the ultimate vicious circle.
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Blame Dr Phil.
I had his "how to survive this financial bullshit" on last night, and it was an hour of "ITS GOING TO GET WORSE!!! SAVE YOUR MONEY, PAY OFF YOUR CREDIT CARDS AND BURY YOUR HEAD!!!!!!!!!!!!!!!"
incidently, his "panel" was made up of the fruit from Mad Money, plus Ben Stein and some lady, both who happen to have relevant books that recently hit the shelves.
And I'm sure Jim and Phil just had people's best interests in mind and werent trying to drive up their ratings by cashing in on the panic and making their wallets more full....